Saving some extra money can feel like a daunting task but just a few small changes can make a big difference. These three simple tips can help you keep a little extra money in your pocket (or bank account).
Learn How to Shop Sales
Before you pick a restaurant or draft a menu for the week, browse the sales fliers and look for discounts like pizza delivery specials. Shopping smart can usually save you more in the long run. It may take some time to get familiar with the sales rotations and price trends at your go-to stores. However, if you learn to shop based on what’s on sale for the week, you can save hundreds of dollars every month, even just on groceries and eating out.
Keep Track of Your Spending
If you keep a log of what you spend in a month, it can be very eye-opening. Not only can it help you figure out how to appropriately adjust your personal budget, but it can also shed some light on how much you really spend on non-essentials.
Grabbing a cup of coffee, eating lunch on the go or downloading a new app can really add up over time. Make an honest list of what you buy for an entire month, group purchases into categories and set new parameters to limit unnecessary spending.
Make a List of Goals
If saving is hard for you, it can be helpful if you have some specific goals you’re trying to reach. Write a list of things you need and want to save for, such as:
- Three months’ salary in savings
- A vacation to a special destination
- A new device or appliance
- Wardrobe updates
- $100 for a fun splurge
When you’re trying to achieve something specific instead of just overall financial stability, you’ll be more likely to take action to reach your goals. It can also help you stay motivated to wait to spend until you’re financially prepared.
It’s time to get smarter about your finances. Taking small steps can have a huge impact and set you up for better financial success.